Generally Speaking,the Contract of a Minor

question 32

Multiple Choice

Generally speaking,the contract of a minor:

• A) must be in writing
• B) is not enforceable by the minor
• C) is void
• D) is voidable at the minor's option

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Definitions:

Wealth

The abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions.

Risk Averter

An individual or entity that prefers to avoid risk, choosing options that have a more certain outcome even if it potentially means receiving lower returns.

Variance

A measure of dispersion that shows how much the values in a set differ from the mean or expected value.

Expected Utility Maximizer

A theoretical concept in economics and decision theory where an individual chooses among risky options by selecting the option with the highest expected utility.